VA Loan Contract Guidelines

The journey to homeownership can oftentimes cause would-be homebuyers to run the gamut of emotions —
from excitement to nervousness and everything in between. As the homebuying process transitions and
you are under contract, it is important to remember the process is not over and there is still work to
be done before celebrating.

Although rare, some homebuyers can lose focus once they are under contract. This can result in some
delays to the financing process or even result in losing the opportunity to secure a loan. Your Home
Loan Specialist will instruct you on important things to maintain once you are under contract.

Veterans United will review your credit inquiries, bank statements and pay stubs to determine if you
have debts that were not disclosed on the application. From the time you apply for the loan to the
time you close, we advise you do not apply for any new debts – including co-signing on a note, buying
or leasing a vehicle and refinancing other notes – without consulting your loan officer.

Even though your loan may still close, your closing could be delayed while additional documentation
is obtained as we work to verify all your information. If the new debt increases your debt load,
there is an increased risk of changing your debt to income ratio and effectively ending your chance
to purchase the home you have selected.

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While this information may cause some trepidation, if you stay on track and follow the guidance of
your Home Loan Specialist, you have little to worry about. If you have any questions about these
possible hiccups, please do not hesitate to contact your dedicated VA Loan specialist.

The journey to homeownership is one of the most rewarding milestones in life. Review all the steps
in the VA Loan process in our next section.

A VA approved lender; Not endorsed or sponsored by the Dept. of Veterans Affairs or any government agency.
Customers with questions regarding our loan officers and their licensing may visit the
Nationwide Mortgage Licensing System & Directory
for more information.